# MGM Resorts Shares Sink 9% After People Withdraws Takeover Bid

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/23811
Published: 2026-09-24T15:55:57.000Z
Updated: 2026-09-24T15:55:57.000Z

MGM Resorts International shares fell 9% Thursday after People Inc. withdrew its proposal to buy the casino operator’s remaining public shares, ending a path toward taking the company private.

People Inc., formerly known as IAC, had offered $48.30 per share in June. The company already owned a 26.1% stake in MGM Resorts.

People Inc. Chairman Barry Diller attributed the decision to the complexity of completing the transaction. He said the company remains open to a future strategic deal with MGM Resorts and will consider a range of alternatives.

MGM Resorts will continue operating as a standalone company.